The price-to-earnings ratio for Spotify Technology S.A. (NYSE: SPOT) is above average at 140.08x. The 36-month beta value for SPOT is also noteworthy at 1.58. There are mixed opinions on the stock, with 3 analysts rating it as a “buy,” 3 rating it as “overweight,” 2 rating it as “hold,” and 0 rating it as “sell.”
The public float for SPOT is 141.17M, and at present, short sellers hold a 2.63% of that float. The average trading volume of SPOT on September 19, 2024 was 1.76M shares.
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SPOT) stock’s latest price update
Spotify Technology S.A. (NYSE: SPOT) has seen a rise in its stock price by 0.53 in relation to its previous close of 342.15. However, the company has experienced a 2.17% gain in its stock price over the last five trading sessions. fool.com reported 2024-09-18 that Spotify stock is on fire, and new growth engines like advertising are becoming a bigger part of the company’s growth.
SPOT’s Market Performance
Spotify Technology S.A. (SPOT) has seen a 2.17% rise in stock performance for the week, with a -0.21% decline in the past month and a 10.99% surge in the past quarter. The volatility ratio for the week is 1.95%, and the volatility levels for the past 30 days are at 2.38% for SPOT. The simple moving average for the past 20 days is 2.30% for SPOT’s stock, with a 24.41% simple moving average for the past 200 days.
Analysts’ Opinion of SPOT
Many brokerage firms have already submitted their reports for SPOT stocks, with Cantor Fitzgerald repeating the rating for SPOT by listing it as a “Neutral.” The predicted price for SPOT in the upcoming period, according to Cantor Fitzgerald is $340 based on the research report published on September 05, 2024 of the current year 2024.
Goldman, on the other hand, stated in their research note that they expect to see SPOT reach a price target of $425, previously predicting the price at $320. The rating they have provided for SPOT stocks is “Buy” according to the report published on July 24th, 2024.
DZ Bank gave a rating of “Buy” to SPOT, setting the target price at $375 in the report published on July 24th of the current year.
SPOT Trading at 4.97% from the 50-Day Moving Average
After a stumble in the market that brought SPOT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -4.29% of loss for the given period.
Volatility was left at 2.38%, however, over the last 30 days, the volatility rate increased by 1.95%, as shares sank -0.67% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +10.41% upper at present.
During the last 5 trading sessions, SPOT rose by +2.17%, which changed the moving average for the period of 200-days by +85.82% in comparison to the 20-day moving average, which settled at $336.12. In addition, Spotify Technology S.A. saw 83.05% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at SPOT starting from THEODORE SARANDOS, who proposed sale 17,710 shares at the price of $340.16 back on Sep 12 ’24. After this action, THEODORE SARANDOS now owns shares of Spotify Technology S.A., valued at $6,024,213 using the latest closing price.
Marshall Christopher P, the Director of Spotify Technology S.A., proposed sale 10,000 shares at $345.19 during a trade that took place back on Aug 21 ’24, which means that Marshall Christopher P is holding shares at $3,451,930 based on the most recent closing price.
Stock Fundamentals for SPOT
Current profitability levels for the company are sitting at:
- 0.03 for the present operating margin
- 0.27 for the gross margin
The net margin for Spotify Technology S.A. stands at 0.03. The total capital return value is set at 0.06. Equity return is now at value 14.82, with 5.35 for asset returns.
Based on Spotify Technology S.A. (SPOT), the company’s capital structure generated 0.24 points at debt to capital in total, while cash flow to debt ratio is standing at 0.99. The debt to equity ratio resting at 0.31. The interest coverage ratio of the stock is 2.55.
Currently, EBITDA for the company is -146.0 million with net debt to EBITDA at -3.37. When we switch over and look at the enterprise to sales, we see a ratio of 4.03. The receivables turnover for the company is 18.38for trailing twelve months and the total asset turnover is 1.43. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.56.
Conclusion
In summary, Spotify Technology S.A. (SPOT) has had a better performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
